By Scott Freiday In the highly competitive and evolving insurance landscape, independent agency owners face a unique set of challenges and myriad capital needs to sustain their growth. As we head into 2025, there is a greater sense of urgency for agencies to invest in technology and talent and make strategic mergers & acquisitions (M&A). The average…
An admitted carrier in Texas tried to nonrenew a commercial umbrella policy that was due to renew in 30 days. However, the Texas insurance code says insureds must be notified of a nonrenewal 60 days before renewal. When the agent mentioned this, the carrier said it would extend coverage for another 30 days and then…
By Alicia Chandler The recent rate cuts by the Federal Reserve have prompted more agency owners to think about ways to grow their businesses. With the cost of borrowing starting to ease, many agency owners feel now may be the time to take a chance on new growth initiatives aided through debt financing. Not all lenders are…
The industry must begin to rebuild relationships, truly committing to providing a better customer experience through transparency, education and innovation.
Improving technology is a determining factor for many carriers as they look to employ a strategic response to a sustained rise in claims frequency and severity.
Nonprofit organizations face many of the same legal exposures as for-profit organizations, including conflicts of interest, breach of fiduciary duty and theft.
Insurance agents play a key role in helping their clients prevent injuries, reduce claims, protect the health of their employees and safeguard the financial health of their businesses.
While cleaning a water tank, a contractor accidentally left the water outlet open. Sandblast media entered the city water supply and contaminated products in a cheese manufacturing facility.
If those experiencing the pain points aren’t involved in validating the proposed tech solution, a lot of time and money can be wasted.
Like elections in the past, this one will not impact agency values—but fiscal policy could impact the portion owners take home.
